Mercer International Inc. (NASDAQ:MERC) Receives Average “Buy” Rating from Analysts
Mercer International Inc. (NASDAQ:MERC – Get Rating) (TSE:MRI.U) has earned an average “Buy” recommendation from the six brokerages that currently cover the stock, Marketbeat reports. Two research analysts rated the stock with a hold recommendation and three gave the company a buy recommendation. The 12-month average price target among brokers who have reported on the stock in the past year is $17.63.
MERC has been the subject of a number of recent analyst reports. Raymond James set a price target of $19.00 on Mercer International shares and gave the company an “outperform” rating in a Monday, May 2 research report. TD Securities raised its target price on Mercer International from $15.00 to $17.00 and gave the stock a “holding” rating in a Monday, May 2 report. Royal Bank of Canada raised its target price on Mercer International from $15.00 to $16.00 and gave the stock an “outperform” rating in a Tuesday, February 22 report. Credit Suisse Group raised its price target on Mercer International from $16.00 to $18.50 and gave the stock a “neutral” rating in a Thursday, April 21 report. Finally, StockNews.com picked up coverage from Mercer International in a Thursday, March 31 report. They set a “buy” rating for the company.
Hedge funds and other institutional investors have recently changed their positions in the company. Russell Investments Group Ltd. bought a new position in Mercer International stock in Q1 valued at around $152,000. Quantbot Technologies LP acquired a new stake in Mercer International in Q1 valued at approximately $155,000. BNP Paribas Arbitrage SA increased its stake in Mercer International by 137.8% in the third quarter. BNP Paribas Arbitrage SA now owns 32,422 shares of the basic materials company valued at $376,000 after buying an additional 18,789 shares in the last quarter. SG Americas Securities LLC increased its stake in Mercer International by 36.6% in the 4th quarter. SG Americas Securities LLC now owns 33,683 shares of the basic materials company valued at $404,000 after buying 9,023 additional shares in the last quarter. Finally, California State Teachers Retirement System acquired a new stake in Mercer International in Q3 valued at approximately $408,000. Institutional investors hold 75.80% of the company’s shares.
MERC stock opened at $14.65 on Friday. The company has a debt ratio of 1.65, a current ratio of 4.16 and a quick ratio of 2.90. The company has a 50-day moving average price of $15.20 and a 200-day moving average price of $13.42. Mercer International has a fifty-two week low of $9.51 and a fifty-two week high of $17.17. The stock has a market capitalization of $968.83 million, a PE ratio of 3.84 and a beta of 1.41.
Mercer International (NASDAQ:MERC – Get Rating) (TSE:MRI.U) last released its quarterly results on Thursday, April 28. The basic materials company reported earnings per share of $1.34 for the quarter, beating consensus analyst estimates of $1.09 by $0.25. The company posted revenue of $592.74 million for the quarter, versus a consensus estimate of $532.10 million. Mercer International had a return on equity of 37.70% and a net margin of 12.81%. The company’s quarterly revenue increased 43.6% year over year. In the same quarter a year earlier, the company posted EPS of $0.45. As a group, stock analysts expect Mercer International to post earnings per share of 3.33 for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 7. Shareholders of record on Wednesday, June 29 will receive a dividend of $0.075. This represents an annualized dividend of $0.30 and a dividend yield of 2.05%. The ex-dividend date is Tuesday, June 28. Mercer International’s payout ratio is 7.85%.
Mercer International Company Profile (Get a rating)
Mercer International Inc, together with its subsidiaries, manufactures and sells Northern Bleached Softwood Kraft (NBSK) pulp in Europe, the United States, Asia and internationally. The Company operates through two segments, Pulp and Wood Products. It also produces and sells green energy produced from a biomass cogeneration plant to third-party utilities.
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